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Shelton St - Garden Studios 4,793 SF Office Condo Unit Offered at $6,974,671 CAD in London WC2H 9JQ
INVESTMENT HIGHLIGHTS
- Located just off Long Acre, within 3 minutes walk to Covent Garden Undergroun
- Comprises a freehold office building
- Prime Covent Garden location
EXECUTIVE SUMMARY
The property comprises a brick built building with four floors and a basement level. The property is located in the heart of Covent Garden, immediately north of Long Acre, providing excellent accessibility to Covent Garden, Seven Dials, Neal’s Yard and Floral & King Street.
PROPERTY FACTS Sale Pending
| Total Building Size | 53,091 SF | Typical Floor Size | 13,172 SF |
| Property Type | Office (Condo) | Year Built | 1954 |
| Building Class | B | Lot Size | 0.10 AC |
| Floors | 4 |
| Total Building Size | 53,091 SF |
| Property Type | Office (Condo) |
| Building Class | B |
| Floors | 4 |
| Typical Floor Size | 13,172 SF |
| Year Built | 1954 |
| Lot Size | 0.10 AC |
AMENITIES
- Security System
- Signage
- Reception
- Storage Space
- Air Conditioning
1 UNIT AVAILABLE
Unit 65-69
| Unit Size | 4,793 SF | Sale Type | Investment |
| Price | $6,974,671 CAD | Tenure | Freehold |
| Price Per SF | $1,455.18 CAD | Sale Conditions | Redevelopment Project |
| Condo Use | Office |
| Unit Size | 4,793 SF |
| Price | $6,974,671 CAD |
| Price Per SF | $1,455.18 CAD |
| Condo Use | Office |
| Sale Type | Investment |
| Tenure | Freehold |
| Sale Conditions | Redevelopment Project |
DESCRIPTION
65-69 Shelton Street comprises an office building arranged over ground, part basement and two upper floors totalling 4,792 sq ft (445.2 sq m) NIA and 5,526 sq ft (513.4 sq m) GIA. The property was constructed in the 1950s and is currently utilised as a business centre with individual demises let on short term licences. Currently the floor plates are divided into multiple demises for the business centre tenants, however the floor plates comprise a regular rectangular shape, providing flexibility for the building to be let as a whole or on a floor by floor basis in future.
There is a dedicated entrance off Shelton Street which has recently been refurbished. The office specification generally includes modern LED light fittings, painted solid (exposed concrete slab) ceilings, painted walls, comfort cooling or cassette air conditioning, a mixture of perimeter trunking or surface recessed power and data cabling and timber floor coverings. Male and female WCs are provided on ground to 2nd floors. There is a small basement accessed via a staircase.
SALE NOTES
Investment summary:
- Prime Covent Garden location, within one of London’s most vibrant retail and leisure districts which attracts circa 45 million visitors a year
-Located just off Long Acre, within 3 minutes walk to Covent Garden Underground, and approximately 7 minutes from Holborn and Tottenham Court Road Underground Stations.
- 65-69 Shelton Street comprises a freehold office building over ground, basement and two upper floors totalling 4,793 sq ft (445.2 sq m) NIA and 5,527 sq ft (513.4 sq m) GIA.
- Exciting value add opportunity, the building offers excellent potential for owner occupiers, developers, investors across existing office use and potential conversion of uppers to residential.
- Positive pre application response received from Camden Council supporting a - 2 storey extension and conversion of upper parts to residential use. The proposed scheme totals 1,747 sq ft NIA of commercial space and 4,451 sq ft GIA of residential over 7 apartments. Subject to planning.
- Covent Garden residential capital values in this area are in excess of £1,500 per sq ft.
Freehold
Offers are sought in excess of £3,750,000 (Three Million, Seven hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT, reflecting a capital value of £679 per sq ft on the GIA.
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Shelton St - Garden Studios
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